Dynamic energy-demand models: a comparison

被引：11

作者：

Yi, F ^{[1
]}

机构：

[1] Univ Gothenburg, Dept Econ, S-40530 Gothenburg, Sweden

来源：

ENERGY ECONOMICS | 2000年 / 22卷 / 02期

关键词：

energy demand model; price elasticity; factor substitution; dynamic factor adjustment;

D O I：

10.1016/S0140-9883(99)00042-0

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper compares two second-generation dynamic energy demand models, a translog (TL) and a general Leontief (GL), in the study of price elasticities and factor substitutions of nine Swedish manufacturing industries: food, textiles, wood, paper, printing, chemicals, non-metallic minerals, base metals and machinery. Several model specifications are tested with likelihood ratio test. There is a disagreement on short-run adjustments: the TL model accepts putty-putty production technology of immediate adjustments, implying equal short- and long-run price elasticities of factors, while the GL model rejects immediate adjustments, giving out short-run elasticities quite different from the long-run. The two models also disagree in substitutability in many cases. (C) 2000 Elsevier Science B.V. All rights reserved. JEL classifications: D21; D24; D29.

引用

页码：285 / 297

页数：13

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[2]

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[3]

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